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AT&T acquires 700MHz spectrum from Verizon for $1.2 Billion

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AT&T has just finalized the acquisition of the 700MHz spectrum from Verizon Wireless in an estimated $1.9 Billion deal. The second largest carrier in the U.S. has acquired the B Block licenses which covers over 18 states and has over 42 million users.

In addition to the $1.9 billion paid in cash, AT&T has also given Verizon Wireless licenses of Advanced Wireless Services or AWS in Phoenix, Arizona; Los Angeles and Fresno, California; Albuquerque, New Mexico and Portland, Oregon.

This new acquisition will strengthen AT&T’s 4G LTE coverage in areas of California, Colorado, Florida, Idaho, Illinois, Louisiana, Montana, New Mexico, New York, Ohio, Oklahoma, South Dakota, Tennessee, Texas, Utah, Virginia, Washington and Wyoming. The carrier currently has a user base of 225 million but it plans to expand that to 270 million by the end of the year, and this new spectrum acquisition should certainly help with that. AT&T is also in the middle of a massive 4G LTE network expansion around the country with several new regions covered over the last couple of months.

Source: AT&T

Via: Phone Scoop